Tag: Bengaluru

IndustryLatest Stories

Karnataka Raises Build Limits for Industrial Plots

Sure! Here’s a revised version of the content: BENGALURU: On Monday, the Karnataka government approved a significant increase in the permissible built-up area on its industrial land. This policy change aims to enhance land utilization in KIADB regions and attract further investments. The state has raised the allowable ground coverage for industrial plots from 65% to 75%. “Previously, only 65% of the land could be utilized for construction, leaving 35% dedicated to setbacks and parking. We have revised this to 75%. There was a clear demand from the industry for better land use, and our assessment indicates that the city…

IndustryLatest Stories

Embassy Developments Q3 FY26 Loss Widens to ₹234 Crore

NEW DELHI: Realty firm Embassy Developments Ltd reported a consolidated net loss of ₹233.71 crore for the quarter ending in December. This contrasts with a net loss of ₹26.54 crore during the same period last year. Total income decreased to ₹264.01 crore in the third quarter of this fiscal year, down from ₹329.13 crore in the corresponding quarter of the previous year, as stated in a regulatory filing. Embassy Developments Ltd, previously known as Indiabulls Real Estate Ltd, is a prominent real estate developer in India, focusing on residential and commercial projects across Bengaluru, Mumbai Metropolitan Region (MMR), National Capital…

IndustryLatest Stories

Shriram Properties Acquires Shrivision Upscale Spaces

NEW DELHI: Shriram Properties has announced the acquisition of 100% equity shares of Shrivision Upscale Spaces, as stated in a regulatory filing. This acquisition was finalized on February 9, 2026, for a cash consideration of ₹10 per share (at par). The target company has a paid-up share capital of ₹1 lakh and reported no turnover as of March 31, 2025. The company noted that this acquisition is strategic and intended for business purposes. It clarified that the transaction does not qualify as a related party transaction, emphasizing that no promoter or promoter group entities hold any interest in the acquired…

IndustryLatest Stories

Confident Group Vows Project Completion After Chairman’s Death

File Photo KOCHI: Following the alleged suicide of its chairman in Bengaluru last week, Confident Group reaffirmed on Monday that it is a zero-debt, zero-investor company. The firm reassured customers that all ongoing projects will be completed as scheduled. Confident Group’s MD, T A Joseph, clarified that a recent Income Tax audit at their Bengaluru office was routine and that IT officials had not engaged in “extreme harassment” during the inspection. His comments come in light of the controversy surrounding the alleged suicide of chairman C J Roy during the IT inspection on January 30. Joseph emphasized that IT officials…

IndustryLatest Stories

Bengaluru to Reduce Penalties for Vacant Sites Citywide

BENGALURU: The Bangalore Development Authority (BDA) is considering a reduction in penalties for allottees who have left their residential plots vacant for years. This decision comes after the authority recognized that the current flat-rate penalty system has not been effective. During a recent governing council meeting, officials acknowledged that the existing 10% penalty, linked to market values, has failed to incentivize site owners to either pay or begin construction. Many beneficiaries have ignored demand notices, prompting the BDA to explore a more practical and graded penalty structure. Under the proposed changes, beneficiaries who build homes within five years of receiving…

CommercialLatest Stories

CapitaLand India Trust Secures ₹915 Cr from First Onshore Bond

NEW DELHI: CapitaLand India Trust (CLINT) has successfully raised ₹915 crore through its inaugural onshore bond issuance in India, as announced by CEO Gauri Shankar Nagabhushanam. This initiative aims to achieve a 3.8% increase in distribution per unit (DPU), which will help mitigate currency volatility and enhance tax efficiencies. Currently, only 16% of CLINT’s loan book is situated in India, with plans to expand this to 40-50%, equivalent to between S$800 million to S$1 billion, over the next two and a half to three years as existing offshore tenors mature. The company has signed a forward purchase agreement for a…

IndustryLatest Stories

Bengaluru body to inform public about illegal layouts

BENGALURU: The Bangalore Development Authority (BDA) has identified 258 unauthorized layouts within its jurisdiction as part of its initiative to combat illegal urban development. To educate citizens about proper construction and planning, the BDA is set to release a series of public interest notices. These notices will outline important details, including the definition of a layout, necessary approvals, and the authorities responsible for granting permissions. The awareness campaign, expected to kick off in Budigere and its neighboring areas, has emerged in response to the ongoing conversion of agricultural and green belt lands into residential plots. The BDA has issued a…

IndustryLatest Stories

Karnataka Home Minister Orders Probe into Confident Group Chair’s Suicide

Sure! Here’s a rewritten version of your content: BENGALURU: On Saturday, Karnataka Home Minister G Parameshwara announced that authorities are investigating the circumstances surrounding the death of Confident Group chairperson C J Roy, who reportedly committed suicide in his office while Income Tax officials were present. Parameshwara shared with reporters that the Income Tax Department had previously conducted searches at Roy’s firm and was in the process of finalizing necessary protocols. “Last December, there was a raid at his company. According to regulations, a charge sheet must be filed within 60 days in court. The need for finalization was urgent,…

Latest StoriesResidential

Bengaluru Buyers Complain of Double Tax on Corner Site Development

Representative AI Image BENGALURU: Some allottees are finding that a few extra square meters can almost double their property tax based on the BDA’s current policy. Owners of irregularly-sized plots argue that the existing slab-based rates unfairly penalize them, despite their properties using the same facilities as standard plots. They maintain that only the excess area should be taxed at a higher rate, yet the current system applies the increased rate across their entire site. For the past five years, concerns have been raised by allottees regarding a 2016 BDA resolution on vacant-property taxation, which they deem flawed. Owners of…

InfrastructureLatest Stories

BDA Layout Residents to Join New Greater Bengaluru Authority

Representative AI image BENGALURU: Residents of several previously neglected Bangalore Development Authority (BDA) layouts are on the verge of gaining democratic involvement. The government has started transferring major BDA-developed areas to the Greater Bengaluru Authority (GBA) and its respective city corporations. For the first time, residents will have the ability to hold the GBA accountable for developmental activities. The initiative includes significant residential areas such as Banashankari 6th Stage, JP Nagar 8th and 9th Phases, Anjanapura Township, and Sir M Visvesvaraya Layout, which were under BDA governance for many years—a body not designed for everyday civic management. Residents have expressed…